taxation

Economic Stimulus Act of 2008

Definition from Nolo’s Plain-English Law Dictionary

A federal law that attempted to avoid or mitigate an economic recession. The Act authorized federal payments of $300 to $1,200 to approximately 130 million American individuals and families. In...

Eleemosynary

Definition from Nolo’s Plain-English Law Dictionary(eh-luh-moss-uh-nary) Charitable, as applied to a purpose or institution.

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Employee

Definition from Nolo’s Plain-English Law DictionaryA person who is hired to work for another person or business (the employer) for compensation and is subject to the employer's direction as to the details of how to perform the job. Employees are subject...

Enrolled Agent (EA)

Definition from Nolo’s Plain-English Law Dictionary

A type of tax professional who is permitted to practice before the Internal Revenue Service (IRS) and can represent taxpayers in audits, collections, and appeals.

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Estate Tax

Estate tax is the taxation of property held by an individual at the time of their death and is one of the oldest and most common forms of taxation. Such a tax can take the form, among others, of estate tax (a tax levied on the estate before...

Estate Tax Threshold

The estate tax threshold is the same amount as the applicable exclusion amount which is the monetary limit on estates and gifts an individual can give in their lifetime without incurring estate and gift taxes. This threshold varies highly by...

Estimated Taxes

Definition from Nolo’s Plain-English Law DictionaryQuarterly tax payments made by self-employed individuals to the IRS and state tax agencies for their anticipated income tax liability for the year, in lieu of withholding from a paycheck. Estimated tax...

Evasion of Tax

Definition from Nolo’s Plain-English Law DictionaryThe intentional attempt to avoid paying taxes through fraudulent means, as distinguished from errors, late payment, or using legal "loopholes."

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Examination Report

Definition from Nolo’s Plain-English Law DictionaryThe report issued by an IRS auditor after an audit is concluded with its findings.

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Exchange

Definition from Nolo’s Plain-English Law Dictionary1) To trade or barter property, goods, or services for other property, goods, or services.2) The act of making a trade or barter.3) Short for "Starker" exchange, an exchange of investment real estate to...

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